COSL cuts 230 jobs after Statoil’s rig contract cancellation

Offshore drilling contractor COSL Drilling Europe will axe 230 jobs as a result of a contract cancellation for one if its semi-subs with the Norwegian company Statoil. 

To remind, Statoil recently terminated the contract for the offshore driller’s COSLInnovator rig, and suspended its contract for another COSL rig, the COSLPromoter. Both rigs were operating on the Troll field in the North Sea, offshore Norway.

The offshore driller said on Friday that 230 jobs would be lost as a consequence of losing the contract for the COSLInnovator with Statoil, while those jobs related to the COSLPromoter would be kept.

The semi-submersible drilling rig COSLInnovator was involved in a fatal incident last year after a heavy wave offshore Norway hit the rig taking the life of one and injuring two offshore workers.

After the news of the contract termination broke out last week, Norwegian unions accused Statoil of abusing the accident that occurred on the rig in December 2015.

COSL Drilling’s parent company, China Oilfield Services Limited, also reacted to the contract cancelation by saying the company would take legal action if necessary in order to protect its interests.

Jorgen Arnesen, CEO of COSL Drilling Europe, said it was sad that so many skilled and loyal employees were losing their jobs on two of the most effective rigs in the North Sea.

This is the second time the same thing happens between COSL Drilling and Statoil, as in June 2015 Statoil ended the contract for the COSLPioneer drilling rig, thirteen months before the expiry date, leading to 229 layoffs at COSL Drilling.

Offshore Energy Today Staff